€100 notes are green, the people are white, this lack of diversity just isn’t right.

The European Central Bank (ECB), steward of the Euro, is one of the most important financial institutions in the world. Yesterday, ECB president Christine Lagarde proudly tweeted this photo of the ECB’s Governing Council:

Lagarde is the woman with short hair at the far end of the table. Everyone else appears to be a white dude. Research from organizational theory makes clear that groups that are more diverse and inclusive do a better job making decisions. For issues as momentous as monetary policy for the Euro, one would think that optimizing decisions, and hence paying attention to the group’s diversity, would be a worthy goal. Eurozone, please explain yourself.